DoorDash agrees to acquire UK rival Deliveroo for $3.9 billion

Image source: Wikimedia Commons (Doordash, Deliveroo) & Pexels

DoorDash, the ubiquitous U.S. food delivery app, has agreed to acquire British rival Deliveroo for 2.9 billion pounds ($3.9 billion) in cash, expanding its business in Europe, Asia and the Middle East.

🚙 Tesla's UK sales lowest in over two years in April as Europe snubs Musk: Tesla's new car sales in Britain plummeted 62% year-on-year in April to their lowest in over two years, even as demand for electric vehicles rose, data from research group New AutoMotive showed on Tuesday. Sales of billionaire Elon Musk's EV cars also plunged to multi-year lows in some other key European markets last month, national data showed last week, as Tesla prepares to counter competition from European and Chinese EV brands with the launch of a revamped Model Y. Reuters reports.

⌨️ Advanced Micro Devices is about to Report Q1 earnings. Here is what analysts are expecting: Advanced Micro Devices is set to report its Q1 2025 earnings on Tuesday, May 6, after the market closes. AMD stock has declined 18% in 2025 so far because of new U.S. export restrictions to China, tough competition from Nvidia, and tariff concerns, among others. Wall Street analysts expect the company to post earnings of $0.94 per share, up 52% from the year-ago quarter. Also, revenues are expected to increase by about 30% from the year-ago quarter to $7.12 billion, according to data from the TipRanks Forecast page. The Globe and Mail reports.

👩🏻‍💻 IBM CEO makes play for AI market and more US investment: IBM on Tuesday made a play for more sales in the crowded artificial intelligence field, touting tools that could help customers manage a fleet of AI agents for their key business applications. In an interview, Chief Executive Arvind Krishna said he saw an opening to provide software that integrates customers' AI agents from other providers -- among them Salesforce, Workday and Adobe, and lets them build their own agents for untapped use cases, with IBM's help. Reuters reports.

💻 ON Semiconductor stock is falling. Earnings and guidance were strong: ON Semiconductor stock tumbled on Monday, even after first-quarter earnings surpassed expectations. A closer look revealed that the chip maker continued to see weak demand across all of its business segments. The Scottsdale, Arizona based semiconductor manufacturer posted adjusted earnings per share of 55 cents, beating analysts’ calls for 50 cents, according to FactSet. Yahoo Finance reports.

🚗 Ford puts a number on its profit hit from Trump’s tariffs and halts guidance: Ford Motor late Monday pulled its 2025 guidance, citing significant near-term risks, and said it expects a tariff hit of about $1.5 billion for the year as U.S. automakers continue to grapple with economic uncertainty and some consumers shy away from big-ticket expenses. MarketWatch reports.

💵 'Asian crisis in reverse' as currencies soar on the dollar: A wave of dollar selling in Asia is an ominous sign for the greenback as the world's export powerhouse starts to question a decades-long trend of investing its big trade surpluses in U.S. assets. Ripples from Friday and Monday's record rally in the Taiwan dollar are now spreading outward, driving surges for currencies in Singapore, South Korea, Malaysia, China and Hong Kong. The moves sound a warning for the dollar because they suggest money is moving in to Asia at scale and that a key pillar of dollar support is wobbling. Yahoo Finance reports.

💿 Palantir Stock Slides Despite Strong Earnings. That’s the Price of a Sky-High Valuation: Software-maker Palantir exceeded high expectations for its first-quarter earnings results but its shares still fell sharply early Tuesday following the report. Adjusted earnings-per-share were in-line with Wall Street’s consensus estimate of 13 cents, and up from eight cents last year. Revenue for the quarter reached $884 million, above expectations of $862 million, and up 39% on the year. MSN reports.

🧸 Barbie-maker Mattel pulls forecasts, to hike US prices as tariffs raise costs: Barbie-maker Mattel withdrew its annual financial targets on Monday and said it would increase prices for some products in the United States as Trump administration's sweeping tariffs bump up input costs for the toymaker. "Given the volatile macroeconomic environment and evolving U.S. tariff landscape, it is difficult to predict consumer spending and Mattel's U.S. sales in the remainder of the year and holiday season," it said. Reuters reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $MRIN: Marin Software

Total gain: +190.58%

2) $SXTC: China SXT Pharmaceuticals

Total gain: +67.37%

3) $CAMP: Camp4 Therapeutics

Total gain: +40.62%

4) $ISOU: IsoEnergy

Total gain: +27.62%

5) JBDI: JBDI Holdings

Total gain: +25.18%

The closing price of the top three market percent gainers trading near or above $3 on May 5.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) $GPUS: Hyperscale Data

Total gain: +458.39%

The stock appeared to be moving on no notable news.

2) $ZCAR: Zoomcar Holdings

Total gain: +36.74%

The stock appeared to be moving on no notable news.

3) $IVF: INVO Fertility

Total gain: +33.61%

The stock appeared to be moving on no notable news.

"Investing is the intersection of economics and psychology."

- Seth A. Klarman

Sourced in:
“Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor”, by Seth
Klarman, published in 1991